A former financial adviser in the UK has denied forging clients’ signatures so he could invest £1.26m (€1.47m, $1.62m) of their money into a high-risk Polish property fund for his own benefit.
Twenty-four victims of pension fraud lost a record £8.6m ($11.1m, €10.1m) in March 2017, a 10-fold increase from the previous month, figures from the City of London police reveal.
Pension scams, DB schemes and retirement support should all feature in the party manifestos the UK political parties publish ahead of the snap election on 8 June, the Pensions and Lifetime Savings Association (PLSA) has said.
A British scammer, who ran a failed spread betting scheme, has been banned by a UK court from acting as a company director for 12 years.
The UK government could delay introducing a ban on pension cold calling after British prime minister Theresa May called a snap election for 8 June, according to investment platform AJ Bell.
Three British nationals allegedly involved in a investment scam have been arrested in the Philippines.
A boiler room scam selling shares in a lottery ticket company that spent investor money on strip clubs, among other things, has had its assets frozen by the US Securities and Exchange Commission (SEC).
The directors of two companies have been banned for a total of 26 years for selling worthless land as an investment, in a scam that netted £2.2m ($2.7m, €2.5m) of which the directors retained £1.3m in commissions.
The Financial Conduct Authority (FCA) has revealed the tactics used by investment fraudsters to deceive the over 55s, as it urges the demographic to check investment opportunities are genuine before parting with their money.
Two directors who ran a wheat-based investment scam have been banned from acting as directors by the UK’s High Court, after failing to account for more than £500,000 ($621,465, €586, 572) of investors’ money.
More than one in 10 consumers contacting the Financial Conduct Authority (FCA) do so to report a financial scam and to find out what they can do about it, the UK regulator revealed Thursday.
People who have fallen victim to investment scams have specific character traits making them more susceptible to fraudsters, according to a new study by US campaign group AARP Fraud Watch Network.
